SoftBank's big bet on sharing economy backfires with coronavirus

The Japan Times 

Masayoshi Son has been among the most fervent believers in the sharing economy, investing billions in startups that help people split the use of cars, rooms and offices. In New York City, the co-working space of SoftBank-backed WeWork stands practically empty as tenants stay home over fears of infection. In Shanghai, drivers for the ride-hailing service Didi Chuxing have seen their pay plummet as customers avoid shared automobiles. In San Francisco, Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., another SoftBank investment, said "I wouldn't put my kids in an Uber." Investors are increasingly spooked about the stability of Son's empire and its $100 billion Vision Fund amid the pandemic.

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